MANILA Electric Co. (Meralco) expects its energy sales volume to grow by more than 5% by the end of the year, said a company official.
“We initially forecasted sales of 4.7% by yearend, but I think we’re now looking at more than 5%, probably up to 6%,” said Meralco First Vice-President Ferdinand O. Geluz during a briefing last week.
With the company’s forecast for the second quarter, the company is expecting to have “good first-half numbers,” he also said.
“In fact, for April, we’re seeing around at least 9% growth and maybe until June, we will grow between 6% [and] 8%. That gives us a good first half numbers.”
For the third quarter, Meralco is still seeing growth but may be tempered by the La Niña weather event, Mr. Geluz said.
For the January-to-March period, Meralco reported energy sales of 12,307 gigawatt-hours (GWh), up by 9% from the 11,287 GWh in 2023, driven by higher demand from all customer segments.
The power distributor registered a net income of P9.6 billion, higher by 19% from the previous year.
Consolidated revenues were flat at P104.5 billion due to lower pass-through charges and energy fees, reflecting lower fuel prices, compared with 2023.
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
